Nissan blames weak demand for 35% slump in profits
Japanese car maker Nissan has suffered a 35 per cent drop in profits amid weak demand across China, Europe and the US, but left its forecasts for the year unchanged.The group, which employs 6,000...
View ArticleLack of natural disasters pushes profits higher at Catlin
Insurance firm Catlin, operator of the largest syndicate at Lloyd’s of London, has seen its full-year profits surge thanks to lower natural disaster claims.The group posted a pre-tax profit of $339...
View ArticleScottish Business Briefing – February 8th 2013
WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today. BANKINGNAB says Clydesdale earnings are on...
View ArticleSir David Jones charged with misleading the market
SIR David Jones, the former executive chairman of JJB Sports, has been charged alongside his son in connection with alleged forgery and making misleading statements to the stock market while at the...
View ArticleChina and oil help fuel market rise
BROKER upgrades helped a number of Scottish stocks yesterday as solid economic data from China and the US re-invigorated the wider market and sent Brent crude to a nine-month high.UBS upped its target...
View ArticleAngel Biotechnology falls into administration
SCOTLAND’S burgeoning life sciences industry was dealt a blow yesterday when one of the sector’s few listed companies fell into administration.Gary Fraser and Blair Nimmo from accountancy firm KPMG...
View ArticleDundas & Wilson hit by more departures of partners
SCOTTISH law firm Dundas & Wilson has been hit by another round of departures of partners from its London office.Those reportedly leaving include banking and finance partner Michael Wrigley,...
View ArticleTrap Oil buys into Trent East
Trap Oil hailed a milestone deal yesterday as it secured a one-third share of a North Sea gas field in exchange for drilling and operating the well.The firm, which bought Aberdeenshire-based Reach Oil...
View ArticleCo-op’s £800m Lloyds branches deal ‘in doubt’
THE Co-operative Group’s £800 million acquisition of 632 Lloyds Banking Group branches has been thrown into doubt, sources claimed last night.Regulatory concerns have forced Lloyds to push the...
View ArticleComment: Criticism of Hungary is typical of EU’s hubris
THIS week I had the opportunity to interview Janos Csak, Hungary’s jovial British ambassador and an entrepreneur who is tipped as his country’s next economics minister. Hungary is the European...
View ArticleStefan Orlowski heads to US in Heineken reshuffle
BREWING major Heineken unveiled a raft of senior management changes yesterday, including the departure of its UK managing director Stefan Orlowski to become the New York-based president of the Americas...
View ArticleShares in Cupid fall ahead of documentary
SHARES in Cupid – one of Scotland’s most successful Aim flotations of recent years – fell sharply yesterday ahead of a documentary investigating the wider dating industry and after a critical post on...
View ArticlePositive outlook fails to drive Nissan’s sales
Nissan bucked the optimistic trend among Japanese carmakers yesterday, leaving its annual profit forecast unchanged as sluggish sales weighed on its bottom line.The cheaper yen is improving the...
View ArticleBusiness briefs: Interbulk | BlackRock | McDonald’s | Neil Crabb
CHEMICAL transportation firm Interbulk has shaved a further £500,000 off its annual interest payments, on top of the £1.5 million it saved in October. Under the latest deal, East Kilbride-based...
View ArticleHMV boss Trevor Moore ‘made redundant’
HMV chief executive Trevor Moore is believed to have been made redundant by the administrator.Deloitte, which was appointed by HMV after the firm struggled against competition from online retailers,...
View ArticleCantor acquires Seymour Pierce
American financial services group Cantor Fitzgerald has bought “certain assets and businesses” of Seymour Pierce after the stockbroker called in the administrators yesterday.The 130-year-old firm,...
View ArticleWoolmark in £23m marketing campaign
WOOLMARK, the quality assurance scheme for fleece, will today unveil a 50 per cent rise in its marketing budget to £23 million to promote garments in fast-growing markets such as China.Stuart...
View ArticleBuilders boost construction but sector remains weak
SIGNS of improvement in the construction sector have raised expectations that the UK’s economic contraction at the end of last year may have been shallower than previously feared.Higher activity in the...
View ArticleLegal & General buys trade parks for £115.9m
Legal & General Property has bought 48 industrial developments in a £115.9 million deal.The acquisition of the Fix Portfolio, from a consortium of investors represented by Paradigm Real Estate...
View ArticleRetail sales gloom for Scotland’s economy
HIGH street retailers endured more economic gloom in the run-up to Christmas, as sales slumped during the final three months of 2012, new figures show.The volume of retail sales, which counts the...
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